Facebook co-founder and C.E.O, Mark Zuckerberg, would not have a firm control over Facebook should he opt to part ways with the company come June 20th, 2016.
Facebook would no longer be controlled by one of the world’s most successful young entrepreneurs; this is somewhat a scary thought particularly for Mark’s followers as we would not know exactly what the future may seem without his active participation.
Facebook however, is not a sole proprietor style of business and has shareholders who constitute the Board of Directors and have decided to come up with the aforementioned condition.
From the perspective of his descendants, and under the current agreement, he will have to pass on the shares to them. From this angle, it seems as if he would let down his descendants if he were to part ways with Facebook.
The irony about the whole scenario is that he is not even planning to sell these shares any time soon. And the most amazing thing about all these is the fact that he and his wife decided to give away 99% of their Facebook shares to philanthropic endeavors. At least, Mark has a strong connection with the less privileged.Recommend0 recommendationsPublished in